Chile's AES Gener Raises Cost of Alto Maipo Power Project

Chilean energy firm AES Gener said Wednesday that its Alto Maipo hydroelectric project has ran into "certain construction difficulties" and as a result the budgeted cost would rise by between 10 and 20 percent.

 

Alto Maipo, initially a $2.05 billion project located just outside capital Santiago, is 60 percent owned by AES Gener, with the remainder held by London-listed copper miner Antofagasta (ANFGY) .

 

AEG Gener shares were down around 6 percent on Wednesday morning.